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Nigeria a big market for Pakistani textiles: Envoy
04
Jul '13
Nigerian High Commissioner to Pakistan Dauda Danladi has said that Nigeria has a large population of 165 million and the country is a big market for Pakistani textile products.
 
This was highlighted by the High Commissioner at a meeting with Karachi Chamber of Commerce & Industry (KCCI) president Muhammad Haroon Agar.
 
Nigerian High Commissioner in his presentation highlighted that Nigeria is amongst the Africa’s ten largest economies, according to a KCCI statement.
 
Nigeria’s present oil reserves were 36 billion barrels and natural gas reserves were 184 trillion cubic feet, and hence Pakistani investors can get the benefit of profitable investment in the oil and gas sectors and allied industries, he said.
 
The High Commissioner informed that the Nigerian Agriculture sector was also open to private sector for large scale commercial farming, and land and fresh water was available in abundance. He said Nigeria also needs agricultural machinery like tractors. 
 
Mr. Danladi said there is scope for cooperation between Nigeria and Pakistan in the textile sector and the Nigerian Government offers conducive investment climate, said the statement.
 
Mr. Agar said there is a keen interest on both sides to develop and expand trade and economic cooperation and a strategy should be evolved by the two countries to help strengthen the trade relations between Pakistan and Nigeria.
 
He said Nigeria has the highest population growth in the world and Pakistan can meet its textile and other needs, and suggested constitution of Pakistan-Nigeria Business Forum.
 
He hoped the recently formed Nigeria-Pakistan Joint Commission will achieve its aim to further strengthen bilateral trade and investment relations.
 
The bilateral trade between Pakistan and Nigeria is not significant and in 2011-12, Pakistan imported commodities worth US$ 3.28 million, while exports to Nigeria amounted to US$ 36.7 million.
 
At the recent D-8 Summit in Islamabad, Nigerian President attached great importance to boost economic interaction with Pakistan and desired to enhance bilateral trade to US$ 1 billion by the end of 2013.
 

Fibre2fashion News Desk - India

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